Crestline Management LP Purchases Shares of 3,400 Carvana Co. (NYSE:CVNA)

Crestline Management LP purchased a new stake in Carvana Co. (NYSE:CVNA - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 3,400 shares of the company's stock, valued at approximately $691,000.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Carvana by 5.6% during the 4th quarter. Vanguard Group Inc. now owns 11,425,367 shares of the company's stock worth $2,323,463,000 after buying an additional 610,234 shares in the last quarter. Lingotto Investment Management LLP increased its stake in shares of Carvana by 1.5% in the fourth quarter. Lingotto Investment Management LLP now owns 3,987,150 shares of the company's stock valued at $810,827,000 after buying an additional 57,215 shares during the period. Geode Capital Management LLC raised its holdings in Carvana by 4.2% in the 4th quarter. Geode Capital Management LLC now owns 1,878,796 shares of the company's stock valued at $381,592,000 after buying an additional 75,250 shares during the last quarter. BNP Paribas Financial Markets boosted its position in Carvana by 89.8% during the 4th quarter. BNP Paribas Financial Markets now owns 1,018,321 shares of the company's stock worth $207,086,000 after buying an additional 481,912 shares during the period. Finally, Norges Bank bought a new stake in Carvana during the 4th quarter worth approximately $179,364,000. 56.71% of the stock is owned by institutional investors and hedge funds.

Carvana Stock Performance

NYSE:CVNA traded up $13.38 during mid-day trading on Tuesday, reaching $293.00. The company's stock had a trading volume of 5,883,877 shares, compared to its average volume of 3,924,515. The company has a current ratio of 3.64, a quick ratio of 2.12 and a debt-to-equity ratio of 3.82. The firm's fifty day moving average price is $211.21 and its two-hundred day moving average price is $227.94. Carvana Co. has a 12-month low of $97.55 and a 12-month high of $298.67. The stock has a market cap of $62.46 billion, a P/E ratio of 186.62 and a beta of 3.61.

Carvana (NYSE:CVNA - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.76. Carvana had a return on equity of 36.59% and a net margin of 1.54%. The business had revenue of $4.23 billion for the quarter, compared to analysts' expectations of $3.94 billion. During the same period last year, the firm posted $0.23 earnings per share. The business's revenue for the quarter was up 38.3% on a year-over-year basis. On average, equities analysts forecast that Carvana Co. will post 2.85 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on CVNA shares. Wells Fargo & Company raised their price objective on Carvana from $290.00 to $310.00 and gave the stock an "overweight" rating in a research report on Thursday, May 8th. William Blair reaffirmed an "outperform" rating on shares of Carvana in a research report on Thursday, February 20th. Evercore ISI cut their target price on Carvana from $250.00 to $240.00 and set an "in-line" rating on the stock in a research report on Tuesday, March 11th. Morgan Stanley raised shares of Carvana from an "underweight" rating to an "overweight" rating in a report on Monday, March 31st. Finally, Needham & Company LLC reissued a "buy" rating and issued a $340.00 target price on shares of Carvana in a research report on Thursday, May 8th. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $268.59.

Insider Buying and Selling

In related news, Director Michael E. Maroone sold 9,000 shares of the stock in a transaction on Friday, May 9th. The stock was sold at an average price of $273.44, for a total transaction of $2,460,960.00. Following the sale, the director now owns 143,504 shares in the company, valued at approximately $39,239,733.76. This represents a 5.90% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Mark W. Jenkins sold 20,000 shares of the stock in a transaction on Friday, February 14th. The stock was sold at an average price of $275.68, for a total value of $5,513,600.00. Following the completion of the sale, the chief financial officer now owns 199,962 shares in the company, valued at approximately $55,125,524.16. The trade was a 9.09% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 441,353 shares of company stock valued at $99,768,424. 17.12% of the stock is owned by corporate insiders.

About Carvana

Carvana Co, together with its subsidiaries, operates an e-commerce platform for buying and selling used cars in the United States. Its platform allows customers to research and identify a vehicle; inspect it using company's 360-degree vehicle imaging technology; obtain financing and warranty coverage; purchase the vehicle; and schedule delivery or pick-up from their desktop or mobile devices.